One of the most popular play-to-earn crypto games is Axie Infinity and there are 2 main currencies in the game. There are Smooth Love Potions (SLP) and Axie Infinity Shards (AXS).
Smooth Love Potions are the game’s main currency and are used to breed Axies. Axie Infinity Shards are used as a governance token and also used to breed Axies.
Keep reading and I’ll share how SLP and AXS work in the game, I’ll share the secret 3rd token and how to earn it, 3 ways to earn passive income from the game, and a cool story about police.
Is Smooth Love Potion a Cryptocurrency?
A Smooth Love Potion is a Cryptocurrency that can be sold on decentralized exchanges such as Uniswap for Ethereum. This Ethereum then can get sold for cash!
SLP or Smooth Love Potions can be earned by playing the game. You get them by fighting other Axies in an arena (PVP).
There is NO cap to the amount of SLP’s that are created in the game.
You “used” to be able to earn SLP by questing and daily challenges. The challenge is some people (or bots) were farming SLP and then selling it for cash. Guess what happened? Yea, tons of these tokens flooded the market.
In order for this to work there needs to be new players coming into the system to purchase this SLP otherwise inflation will happen.
If there is TOO much SLP for sale and not enough buyers then the price will drop. As you can see from the chart below this happened!
In the future, the developers are planning on giving players 0 SLP when questing with their Axies. Nearly 60% of all SLP in circulation comes from adventure and daily quests.
Also, (PVP) player vs. player SLP awards will be reduced by 30 to 50%. The reason the developers are doing this is to reduce the supply and increase the price of the SLP token.
The good news is the game Axie Infinity is being upgraded and in the future, there will be MORE uses for SLP. The team is hinting at the capability to use these Love Potions to upgrade parts on your little fuzzy pets (I’m talking about Axies).
There might even be ways to use these Love Potions to rename your pets and give them new cosmetic stuff (like a pimp hat or cane).
Oh, and the developers are even in the works with creating a builders program. This program allows other developers and game designers to build stuff on the network to burn SLP.
All of these plans are designed to reduce the supply of the token and will probably lead to an increase in the price. Of course, anything can happen in the crazy world of crypto right?
The main purpose of SLP is to breed Axies to create more. These Axies can be used in the game or sold to others players.
The amount of SLP needed is determined by how many times the Axie was bred. The breed count is how many times the Axie was reproduced.
|Breed Number||SLP that is Needed for Breeding|
What does AXS Infinity Shards Crypto Do?
AXS Infinity Shards’ main purpose is a governance token and this means holders can vote on proposals and make them. The AXS Infinity Shards are also used to breed Axies and users can also stake Shards to earn more rewards.
You might be wondering how many AXS Infinity Shards are needed to breed an Axie?
There is a total supply of 270 million AXS Shards and around 61 million in circulation at the time of this blog post. The bad news is the price of the Shards has gone down a lot due to staking being implemented and more supply in circulation.
If you look at the white paper HERE you will notice even more Shards to be released in the future. Unless the developers figure out a way to burn some of these Shards or produce less the price of them will probably go down.
Oh, and you can even earn these Infinity Shards in the game as well. They are given out to the top players on the leader boards.
What is the Secret 3rd token in Axie Infinity?
Axie Infinity also has a Ron Token and owning the token is similar to investing in the Ronin network. Axie Infinity uses Ronin for transactions to help with gas fees on the Ethereum network.
Right now all the transaction on the Ronin network (that Axie Infinity uses) is free. The bad news is in the future there will be a small fee for “every” transaction in the way of Ron tokens.
The Ron token is so new you can’t actually buy it, but you can earn it from SLP.
The way to earn the Ron Token is by providing liquidity to the DEX of Ronin called Katana. A katana is a sword that a Ronin (wandering Samaraii without a master has).
You can view Katana the DEX (Decentralized Exchange) of Ronin by clicking HERE.
If you provide SLP and Ether to the pool you will get the “mysterious” RON token. You can actually take this RON token and stake it (this is the only thing you can do with the token now).
When you stake the RON token you will earn rewards.
3 Ways to Earn Passive Income with Axie Infinity.
Who doesn’t want to earn money while doing what they love right? Well, I love collecting these ideas like a chipmunk collecting acorns.
One way you can earn passive income is by liquidity mining for the Ron token. I talked about this earlier, but liquidity mining has been very profitable for me and I have to mention it.
The second way is to create a scholarship. I talk more about scholarships in this post HERE. What you would do is rent your Axie out to someone else and keep 25-50% of the rewards.
It’s similar to renting out your car, but not having to worry about gas and wear and tear!
You can even check out a calculator HERE, where you can geek out to see how much money you can earn.
The third way is you can stake the AXS token. To stake the token you first have to earn or purchase the AXS token. One popular place to get the token is Coinbase where you can view HERE.
Next, you need the Ronin Wallet that you can get HERE that attaches to your browser. Next, register at the Axie Marketplace HERE, then transfer the AXS To your Ronin wallet.
Lastly, go to the staking dashboard HERE and stake your coins.
There is a lot of competition when it comes to play-to-earn games, but Axie Infinity already has a large user base.
In the long run, I’m very optimistic about the game, but the short term does look dark with too many SLP’s and Shards floating around. This is why the price of both of these tokens has collapsed in recent times.
I want to end with a story. A police officer found a perfect place to catch speeding motorists. Every day he would catch TONS of speeders. Then one day the officer was amazed that everyone “all day” was going under the speed limit.
The officer was confused and finally did a little investigating and found what was happening. A 10-year-old boy was standing on the road with a huge hand-painted sign which read “Radar Trap Ahead.”
A little more investigating work led the officer to another boy 100 yards up the road with a sign that said “tips” and a bucket at his feed full of cash.
This story has nothing to do with Axie Infinity, but I thought it was great. Oh, and this HERE is the easiest way I’ve found to earn money in crypto.
I hope this blog post on SLP and AXS was helpful. Bye for now.